Archive for March, 2009

Appealing to Urgent Needs: Understanding ROI

Today’s economy has had a huge impact on the way customers and prospects are making their buying decisions. Instead of looking for products and services that will give them great long-term results they are looking for things that will give them an immediate return on investment (ROI).

Most companies today don’t have 6-12 months to wait for results. They need them now and they need them urgently. Do the products and services you are offering right now meet those needs?

What if you don’t realize the urgency of their situation, you ask? Why wouldn’t you? During the course of your cold calling, prospecting, and sales meetings you should be asking lots of questions about the company, the way it operates, and how things are moving along in today’s market. You should not only be asking these questions, but you should be listening to the answers.

Are you?

If you are listening you’ll find you have already gathered the information you need to guage the expectations of your client. You can then search your catalog of products and find the ones that best meet the needs they have today.

Don’t forget to follow up after your meetings, too. Things that at one point didn’t seem important may suddenly become so and you may need to reevaluate your client’s needs and, subsequently, the services you offer.

Sean

Sales Expert - Marketing ConsultantMotivational Speaker

The 5 P’s of Selling

As you prepare for your next sales meeting I urge you to consider whether or not you are prepared to address the “5 P’s” of selling. What are they, you ask?

  • Product
  • Pushing through
  • Personality
  • Persistence
  • Price

The concepts are pretty simple. To begin with, do you know your product inside and out? You need to know enough about it to answer any questions, make quick comparisons to the competition, and point out its benefits and features.

You need to have the skills and knowledge necessary to continue pushing through even if your sales presentation does not at first seem to be going well. Combine this with your winning personality and stellar sales skills and in many cases you can turn the attitude or mood in the room around.

It’s also important to remain persistant throughout the process. Just because the person you are speaking to isn’t interested today does not mean he won’t want your product in a month, six months, or maybe even a year. A high percentage of sales are made not on the first try, but on the follow up.

Lastly, be conscious and aware of your price point, how it compares to the competition, and whether or not you have room to apply discounts based on the needs of your prospect.

Put the five P’s together and you’re guaranteed a successful presentation – even if you don’t make the sale on the first try!

Sean

Sales Expert - Marketing ConsultantMotivational Speaker

10 Tips for Professional Selling

So you have finally decided to settle down and act like a professional salesperson? Congratulations!

I’ve found, over time, that there are 10 key points that every professional salesperson needs to remember and focus on. If you can follow these 10 simple rules you’ll find yourself becoming more and more successful as you grow. So what are they?

  1. Sell yourself. Your prospects need to trust you just as much as they need to believe in your product. Sell yourself and your abilities first. Build rappaport and trust. The sale will follow.
  2. Ask genuine questions and listen to the answers. Many salesmen ask questions to hear themselves talk and then think about what they want to say next instead of listening to the answer. This is a terrible way to do business and you may really miss out on some important key points that might aid your sale.
  3. While the features of a product are important, they’re only worthwhile if your prospect can understand how those features will benefit him. Be complex in your descriptions and make sure they understand not only why your product is superior, but why they need it.
  4. Sell results. This relates to benefits. What benefit will your prospect get from buying your product and how will it impact his bottom line (results, sales, effectiveness, etc).
  5. Never rely on logic alone when attempting to make a sale. Everyone has a different opinion of what logic is, especially when it comes to how they run their business. Be prepared for anything your prospect puts on the table and don’t argue with him.
  6. Know your product and those of your competitors, but don’t overwhelm your prospect. Only give him the information about competitors products that he needs or asks for.
  7. Know your Unique Selling Points inside and out.
  8. Don’t get caught up in a price war. You may have some wiggle room when it comes to adjusting your price, but make these adjustments the exception and not the rule.
  9. Don’t just talk about your product. Show your product.
  10. Never, ever speak of your competition in a degrading manner. Your prospect may still have close ties with the competition and, really, it’s simply unprofessional. Your job is to prove that your product is better without knocking the competition on a personal level.

Begin thinking about these rules as you prepare your upcoming sales presentations? Are you ready to address each of these key points? If not, do a little more research. The better prepared you are the higher your chances of success.

Sean

Sales Expert - Marketing ConsultantMotivational Speaker

Establishing Market Impact

As a sales manager, part of your job is to make sure that you are making an impact on the niche market you are trying to reach. It’s one thing to have a product and attempt to sell it but it is an entirely different thing to have a good product, target it’s development towards your niche, market it effectively, and then make sure it stays relevent.

Before you move forward with the development of your next marketing plan, ask yourself the following questions:

  • Do we know who are customers really are and how to reach them?
  • Have we anticipated what our prospective customers really need?
  • Are the products and services we offer more advantageous to our customers than the ones offered by our competitors?
  • Do our products meet the demands our customers have put before us in terms of both quality and functionality?
  • Do the products and services we offer exceed the expectations our customers have of us? Ie., do we do our job above and beyond?

The answers to the above questions will give you valuable information to consider while formulating your next product or marketing plan. You’ll be able to use the answers to develop a well-thought out formula for marketing and sales success.

Remember – it’s more effective to know your market and tailor a product to suit their needs than it is to develop a product and then attempt to find a market for it!

Sean

Sales Expert - Marketing ConsultantMotivational Speaker